What to Know
- Two dormant PEPE whale wallets transferred 2.27 trillion tokens worth $10.19 million, marking substantial movements among previously inactive holders.
- PEPE surged 10.8%, outperforming Shiba Inu’s 1.66% gain and narrowing their market capitalization gap to approximately $1.06 billion.
- Tron founder Justin Sun accumulated $51.25 million in PEPE, while major holders reportedly controlled 94.66% of its total supply.
Two dormant PEPE whale wallets transferred 2.27 trillion tokens worth $10.19 million, coinciding with substantial gains across Ethereum’s memecoin sector. According to Lookonchain, one whale moved $6.53 million in PEPE following a year of inactivity, while the token gained 10.8%, narrowing its valuation gap with Shiba Inu to $1.06 billion.
Blockchain records previously linked the wallet to Coinbase deposits, indicating an established history of exchange transfers. The second address transferred another $3.66 million following four months of inactivity, bringing the combined movement above $10 million.
Despite these transactions, buying activity accelerated, with 84% of twelve-hour trading volume occurring within the final six hours. The increased participation accompanied PEPE’s price recovery, strengthening its position among Ethereum’s leading speculative cryptocurrencies.
Also Read: Stellar Unveils Project Thruput With 7 Million Payments Per Second Capacity
PEPE Outperforms Shiba Inu as Market Capitalization Gap Narrows
We're back on X.
— 36Crypto (@36Crypto1) August 21, 2026
Our previous account (36crypto2) is currently unavailable while we continue working through the appeal process. In the meantime, this is our new official account. While you are on this page, please support us by sharing and following.
TradingView figures showed PEPE advancing 10.8%, significantly outperforming Shiba Inu’s 1.66% increase during the same session. Consequently, the valuation difference between both cryptocurrencies reached $1.06 billion, representing their narrowest reported margin.
Source: Tradingview
Shiba Inu retained its higher ranking, while PEPE’s stronger performance reduced the distance separating their market capitalizations. The price movements also reflected renewed participation in Ethereum-based memecoins, particularly among traders dealing in established speculative assets. Separately, blockchain intelligence findings revealed substantial accumulation involving another prominent investor, adding further details about PEPE ownership.
Justin Sun’s PEPE Holdings Reach $51.25 Million
Arkham Intelligence data indicated that Tron founder Justin Sun accumulated approximately 2.82% of PEPE’s total token supply. The position reached an estimated $51.25 million, with purchases reportedly occurring over ten days.
Additionally, major holders reportedly controlled 94.66% of the cryptocurrency’s supply, demonstrating considerable concentration among large investors. This ownership structure places significant token balances within a relatively small group of wallets.
Sun’s reported accumulation adds to the substantial positions associated with influential participants in the memecoin market. PEPE’s performance ultimately brought its valuation closer to Shiba Inu, while both cryptocurrencies registered positive daily returns.
Also Read: XRP Ledger’s 2,633% Payment Surge Fades as XRP Price Struggles Below $1.38
